Which one of the following statements best describes a price ceiling?
a. A price ceiling causes demand to change.
b. A price ceiling causes supply to change.
c. A price ceiling keeps a price from rising above a certain level.
d. A price ceiling keeps a price from falling below a certain level.
c. A price ceiling keeps a price from rising above a certain level.
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Most illegal immigrants are found in occupations
a. that require licenses. b. that require two years of college. c. that require certificates. d. that require little formal education.
The main purpose of the Fed is to:
a. serve as the bankers' bank for member banks. b. regulate interest rates. c. print Federal Reserve Notes. d. regulate financial institutions. e. maintain the proper functioning of our money system.
A decrease in equilibrium price and an increase in equilibrium quantity could be brought about by a(n)
a. increase in demand b. decrease in demand c. increase in resource prices d. improvement in production technology e. favorable shift in tastes and preferences
The sum of wages and salaries, interest, rent, and profits equals
A. net national product. B. national interest. C. gross national product. D. national income.